Fidelity Canada Fund
FICDX
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- Fidelity Canada Fund (FICDX) is an open-end mutual fund that seeks long-term capital growth by investing at least 80% of its assets in securities of Canadian issuers and other investments tied economically to Canada, primarily common stocks of companies with principal activities in Canada or listed on Canadian markets; it may also invest in securities of U.S. issuers and allocates up to 35% of total assets to any single industry even if that sector exceeds 20% of the Canadian market capitalization, employing fundamental analysis of issuers' financial condition, industry position, market, and economic conditions to select investments. The fund, with approximately $1.03 billion in net assets and 69 holdings as of recent reports, targets institutional and retail investors seeking exposure to Canadian equities across large-cap blend styles in the miscellaneous region category, with a net expense ratio of 1.03% and daily pricing in U.S. dollars. Managed by Fidelity Investments since its inception on November 17, 1987, the fund is domiciled in the United States with headquarters at 245 Summer Street, Boston, Massachusetts. Portfolio manager Ryan Oldham has overseen the fund since June 20, 2018, following prior managers including Risteard Hogan, with the strategy emphasizing growth through diversified Canadian equity investments. The fund operates primarily in North American markets, focusing on Canadian-listed securities while available for sale in the United States. It forms part of Fidelity Investment Trust, a series offered through Fidelity's broad mutual fund lineup managed by Fidelity Management & Research Company LLC. In recent developments, Fidelity Investments announced risk rating changes effective January 9, 2026, for certain Canadian funds including those under Fidelity Investments Canada ULC, reflecting strong historical outperformance amid elevated global equity volatility, with fund facts updates planned for November 2025; additionally, final 2024 annual reinvested capital gains distributions were adjusted in December 2024 due to investor activity impacting select Fidelity ETFs and funds. No major acquisitions, partnerships, or structural reorganizations specific to FICDX were reported in the last 1-2 years, though Fidelity broadly expanded its ETF offerings and digital assets services in 2025. The fund maintained steady operations, with semiannual performance for the period ending April 30, 2025, showing gains outperforming its benchmark.